Off-price retail company Ross Stores (NASDAQ:ROST) will be announcing earnings results tomorrow after market close. Here's what you need to know.

Last quarter Ross Stores reported revenues of $4.92 billion, up 7.9% year on year, beating analyst revenue expectations by 1.8%. It was a mixed quarter for the company, with a decent beat of analysts' revenue estimates, driven by better-than-expected same-store sales growth and more new store openings. On the other hand, its earnings forecast for next quarter missed analysts' expectations with management expecting decelerating same-store sales growth thanks to the uncertain macro environment.

Is Ross Stores buy or sell heading into the earnings? Read our full analysis here, it's free.

This quarter analysts are expecting Ross Stores's revenue to grow 11.5% year on year to $5.81 billion, improving on the 3.9% year-over-year increase in revenue the company had recorded in the same quarter last year. Adjusted earnings are expected to come in at $1.65 per share.

The analysts covering the company have been growing increasingly bullish about the business heading into the earnings, with revenue estimates seeing eight upward revisions over the last thirty days. The company missed Wall St's revenue estimates twice over the last two years.

Looking at Ross Stores's peers in the apparel and footwear retail segment, some of them have already reported Q4 earnings results, giving us a hint of what we can expect. TJX delivered top-line growth of 13% year on year, beating analyst estimates by 1.4% and Urban Outfitters reported revenues up 7.3% year on year, missing analyst estimates by 1%. TJX traded flat on the results, and Urban Outfitters was down 6.3%.

Read our full analysis of TJX's results here and Urban Outfitters's results here.

There has been positive sentiment among investors in the apparel and footwear retail segment, with the stocks up on average 10.2% over the last month. Ross Stores is up 5.1% during the same time, and is heading into the earnings with analyst price target of $146.4, compared to share price of $149.96.

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